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. >> and lord, joseph, roman catholic church, cardinal ratzinger. ratzinger. >> oh, back now to more recent images and it's clear that the pope, vatican leader has taken a toll on him physically and such a incredibly demanding position, he insists that the decision to step down was made without any outside pressure. greg palkot is outside london with the latest. >> reporter: it was a big surprise to a lot of people. pope benedict xvi saying he will step down on february 28th, less than eight years into the papacy and he went on to say that specifically his strength was deteriorating in the last few months and that's why he made the decision. according to the vatican today, this sets up a conclave of cardinals and elections for a new pope by mid march and the vatican saying we should see a new pope by easter sunday, march 31st. and benedict will not take part in that conclave and has to be said conclaves usually happen when poapst die and the last time a pope resigned was the year 1415. and pope benedict says that poapst should step down when they don't feel up to it. we saw john paul ii su
knew benedict when benedict was joseph ratzinger. >> he could work with a real crowd and with his experience in theater and poetry and everything, he would really reach people like that. >> widmer, an author who teaches at catholic university, says as a swiss guard you never spoke to a pope or cardinal unless he addressed you first but he and benedict would chat when benedict was waiting to see pope john paul. >> completely open. >> reporter: what was he like to talk to? >> very -- he would ask me what my interests were and how i felt and how i saw things. >> reporter: and with a sense of humor, like when benedict offered to sign widmer's copy of a book that he written which was pretty thick. >> when i gave it to him he said, you're really reading this? and i said, i'm trying. he said, it helps to do it in small steps. >> reporter: but he also had a personal crisis as a guard, spending his first christmas away from home. john paul helped him through that. >> i sort of had a meltdown and right at that moment he comes out of his apartment and he noticed and he reached out to me and
, after eight years, formal cardinal joseph rat ratzinger retires as pop. as we continue to see what the conclave will do as we search for his successor as the entire world watches what is happening with him. >>> got some breaking news out of the new york fed. a hard right turn here to steve liesman. >> why does this always happen to me, carl? >> hard to follow the pope, my man. >> exactly. let me do my best. the new york fed reporting that total consumer indebtedness rising a scant 3% to 11.3 trillion. housing debt was flat. it was a small gain but the first gain we've seen since the first quarter of 2011, that was thought to be a bit of a statistical anomaly. so maybe this is the first real gain. let me show you what rose. auto loans up 15 billion. credit cards up 5 billion. the perennial student loans up 10 billion and they have been rising quite a bit. delinquencies are quite high. all delinquencies declined except for student loans and they were up almost 12% and probably because of a whole bunch of different reasons, carl, they could be twice as high as that. carl, back to you.
Search Results 0 to 3 of about 4 (some duplicates have been removed)